- Social Security is a crucial source of income for many retirees, with 62% relying on it. Changes in 2026 will impact benefits, including a $17.90 increase in Medicare Part B premiums to $202.90, reducing buying power. A provision protects small benefit holders from decreased payments.
- Earning over $24,480 in 2026 while collecting Social Security could reduce benefits. The retirement earnings test applies before full retirement age, deducting $1 for every $2 earned over the threshold. Benefits withheld due to the test are recalculated at full retirement age.
- Seniors may pay less in taxes on Social Security benefits with a new law offering a deduction up to $6,000 for individuals over 65. The deduction offsets taxable benefits for some households with income under $150,000 for joint filers or $75,000 for individuals. No need to collect Social Security to qualify.
Read more at Nasdaq: 3 Big 2026 Updates Could Impact How Much of Your Social Security Benefits You Get to Keep